Enveric Biosciences, Inc. (NASDAQ:ENVB) Sees Significant Growth in Short Interest

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 38,702 shares, a growth of 150.7% from the September 30th total of 15,435 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 73,479 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ENVB. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a report on Thursday, October 15th. Wall Street Zen upgraded Enveric Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 23rd. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has an average rating of “Sell”.

Enveric Biosciences Stock Down 0.3%

Shares of NASDAQ:ENVB traded down $0.01 during trading on Friday, hitting $1.46. The stock had a trading volume of 5,027 shares, compared to its average volume of 1,306,802. Enveric Biosciences has a 12 month low of $1.17 and a 12 month high of $13.25. The company has a market capitalization of $6.52 million, a PE ratio of -0.12 and a beta of 1.18. The firm’s fifty day moving average is $1.45 and its 200 day moving average is $2.03.

Enveric Biosciences (NASDAQ:ENVB) last released its earnings results on Friday, August 14th. The company reported ($0.76) EPS for the quarter.

About Enveric Biosciences

Enveric Biosciences, Inc is a biotechnology company focused on discovering and developing novel small-molecule therapeutics for cancer and central nervous system disorders. The company’s research uses insights from cannabinoid science and psychedelic-inspired compounds to identify potential treatments for conditions with significant unmet medical needs.

Enveric has developed a portfolio of proprietary drug candidates and intellectual property, including programs aimed at mental health conditions such as depression and other neurological disorders, as well as therapies intended to address cancer-related symptoms and supportive-care needs.